Demand for construction and manufacturing materials both domestically and internationally continued on the Great Lakes-St. Lawrence Seaway through August as shipments of iron ore, steel, cement and stone surged through the region.
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Dodge Momentum Index Drops in August
The Dodge Momentum Index dropped 3% in August to 148.7 (2000=100) from the revised July reading of 154.0. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Read MoreNew Single-Family Home Sales Rise
As the market has cooled due to higher costs, July recorded a slight gain of 1% for sales of newly constructed single-family homes, according to estimates from the Census Bureau and the Department of Housing and Urban Development.
Read MoreConstruction Spending Up in July
Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of $1,568.8 billion, 0.3% (±1.2%) above the revised June estimate of $1,563.4 billion. The July figure is 9.0% (±1.5%) above the July 2020 estimate of $1,439.6 billion.
Read MoreTotal Construction Starts Lower in July; Highways Up
Total construction starts fell 3% in July to a seasonally adjusted annual rate of $854.8 billion, according to Dodge Data & Analytics. There were few bright spots during the month, with all three sectors (residential, nonresidential building and nonbuilding) moving lower in July.
Read MoreDodge Momentum Index Dips in July
The Dodge Momentum Index fell to 155.8 (2000=100) in July, a 6% decline from the revised June reading of 164.9. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Read MoreConstruction Spending Higher in June; Highways Down
The U.S. Census Bureau announced that construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, 0.1% (±1.2%) above the revised May estimate of $1,551.2 billion. The June figure is 8.2%(±1.3%) above the June 2020 estimate of $1,435.0 billion.
Read MorePCA: Cement Consumption Continues to Climb
The Portland Cement Association (PCA) Market Intelligence Group’s Senior Vice President and Chief Economist Ed Sullivan presented the association’s annual summer cement market outlook, predicting an increase in cement consumption over the next four years.
Read MoreAEM Report: Infrastructure Means 100,000 Good Jobs
The Association of Equipment Manufacturers (AEM) released a new report that shows more than 100,000 family-sustaining equipment manufacturing jobs can be created before the end of President Biden’s first term in office. According to the data by IHS Markit, these are high-skilled jobs in primarily rural areas that pay an average annual income of $88,000, which is 35% above the…
Read MoreARTBA Report Highlights California Infrastructure Investment
Federal, state, and local infrastructure funding yields nearly $200 billion in economic activity in California and creates 700,000 jobs each year for the Golden State, according to a new report from the American Road & Transportation Builders Association (ARTBA).
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